Wednesday, January 6, 2010

Do You Need Long-Term Care Insurance?

Clients often ask about long-term care insurance; and the answer is that it depends on your situation. Your health, your financial resources, and likely arrangements for future care (e.g., family, etc.) must be considered.

It may become necessary for each of us to be faced with the need for daily help with things such as bathing, dressing, and preparing meals. Some people need long-term, 24-hour assistance.

This kind of care is expensive and can be a financial strain on the family. Medicare does not cover long-term care; instead, Medicare only covers nursing facility and home health care if it is skilled care, medically necessary, and only for a limited period of time.

Long-term insurance covers the costs of the custodial care that Medicare doesn't cover. This can include home health care, adult day care, nursing home care, the cost of assisted living facility expenses, and respite care.

Before investing in a long-term care policy or contract, consider your circumstances carefully. You may discuss this with your estate planning attorney or another excellent resource is to contact the California Health Insurance Counseling and Advocacy Program (HICAP). To contact a HICAP counselor call 1-800-434-0222.

If you have any questions regarding this or other Estate Planning topics, please visit my website at:


This blog is intended for informational purposes only and is not a substitute for legal advice from a qualified estate planning attorney in your jurisdiction.

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